NEW YORK, March 22 /PRNewswire/ -- Elliott Associates, L.P.
(together with funds under common management), issued the following
statement in response to the decision by the Board of Directors of
Novell, Inc. (Nasdaq: NOVL) to put the Company up for sale:
"We welcome the Board's decision to conduct a sale of the
company, which we believe is the best way to maximize shareholder
value. Our goal is to acquire Novell, and our cash offer to acquire
all of the company's shares for $5.75
per share provides shareholders with a substantial premium of 109%
to the company's equity value net of cash on January 4, the day before we commenced actively
acquiring Novell shares. We look forward to the process and to
actively pursuing an acquisition of the Company."
About Elliott
Elliott's two funds, Elliott Associates, L.P. and Elliott
International, L.P., together have more than $16 billion of assets under management. The
funds' investors include institutions, foundations, endowments,
pensions, high net worth individuals, and family offices. The
33-year-old trading firm is one of the oldest of its kind under
continuous management.
SOURCE Elliott Associates, L.P.